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Jury Convicts Payday Lender Owner for Allegedly Fraudulent Payday Lending Scheme

On November 15, 2017, the U.S. Attorney for the Southern District of New York (“?USAO”) announced that a jury has convicted the owner of an alleged fraudulent lending scheme (the “Defendant”) for one count of conspiracy to...more

Loan Brokerage Firm Agrees to $70,000 Settlement with CFPB Over Personal Loans Made to Recipients of Victim Compensation Funds

On September 19, 2017, the Consumer Financial Protection Bureau (“CFPB”) announced a simultaneous complaint and proposed consent order with a loan brokerage company and two associated individuals (the “Defendants”). The...more

CFPB, Student Loan Securitizer, and Debt Collector Agree to Combined $21.6 Million Settlement for Alleged Illegal Collection...

On September 18, 2017, the Consumer Financial Protection Bureau (“CFPB”) announced that it had entered into a settlement and proposed consent judgment with a student loan owner and securitizer, and a separate consent judgment...more

DOJ Obtains $907,000 Settlement for Auto Lender’s Repossession of Active Duty Servicemembers’ Vehicles

On September 18, 2017, the Department of Justice (“DOJ”) announced that it had entered into a $907,000 settlement with an auto loan lender and servicer (“Defendant”). In its co?mplaint,? filed the same day in the United...more

Debt Collection Firm Enters Consent Judgment for $1 Million in Restitution with Massachusetts AG

On July 27, 2017, the Massachusetts Attorney General’s Office (Massachusetts AG) annou??nced that it ?entered into a consent judgment? with the largest debt collection law firm in the state and two of its principals. The...more

Arizona AG Obtains Judgment and Injunction Against Mortgage Relief Operation

On July 27, 2017, the Arizona Attorney General’s Office (Arizona AG) announced that it had obtained a judgment? against an allegedly fraudulent mortgage relief company and its owner. The company is alleged to have targeted...more

Virginia AG Obtains $480,000 Settlement with Small-Dollar Lender

On July 25, 2017, the Virginia Attorney General’s Office (Virginia AG) announced that it had reached a settlement with a small-dollar open-end credit lender. According to the Virginia AG, the lender offered open-end cash...more

FTC Enters $53 Million Settlement With Prepaid Debit Card Provider

On March 31, 2017, the Federal Trade Commission (“FTC”) announced that it had agreed to settle charges with a prepaid debit card provider for $53 million in monetary relief applied to balances and fees in customers’ accounts....more

Mortgage Servicer Enters in to $225 Million Consent Order with California DBO

On February 17, 2017, the California Department of Business Oversight (California DBO) announced that it had entered in to a $225 million consent order with a national mortgage servicer following an investigation by a...more

Florida AG Enters $8 Million Consent Order with Loan Service and Referral Companies

On February 14, 2017, the Florida Attorney General’s Office (Florida AG) announced that it had entered into three consent judgments and one settlement with four affiliated loan service companies and their operators, resolving...more

Student Loan Debt Collector Settles with FTC for $700,000 Over Alleged FDCPA and FTC Act Violations

On February 14, 2017, the Federal Trade Commission (FTC) announced that it had entered into a stipulated order with a student loan debt collector, resolving allegations that the debt collector violated the Fair Debt...more

Florida State Agencies Secure $28 Million Coordinated Settlement With Online Payday Lender

On January 12, 2017, the Florida Attorney General’s Office (Florida AG) announced that it and the Florida Office of Financial Regulation (Florida OFR) had entered into coordinated settlements with an online payday lender and...more

FTC Secures $19.4 Million in Judgments Over Mortgage Relief Scheme

On January 11, 2017, the Federal Trade Commission (FTC) announced that it had agreed to two stipulated orders with individuals who participated in an alleged fraudulent mortgage relief scheme. According to the FTC, the...more

CFPB Orders Medical Debt Collection Law Firms To Pay Over $600,000 For Alleged Misrepresentations

On January 9, 2017, the Consumer Financial Protection Bureau (CFPB) announced that it entered into a consent order with two affiliated medical debt collection law firms over allegations that the law firms used deceptive...more

FTC Files Lawsuit Against Seller of Fake Payday Loans

On January 9, 2017, the Federal Trade Commission (FTC) announced that it had filed a lawsuit in the U.S. District Court for the District of Kansas against one individual and affiliated companies, alleging that they sold...more

Five Indicted for Alleged $33 Million Fraudulent Mortgage Discharge Scheme

On December 1, 2016, the United States Attorney’s Office for the Southern District of New York, the New York Field Division of the Federal Bureau of Investigation, and the Department of Housing and Urban Development (HUD)...more

FTC and Florida AG Announce Settlements in Alleged Fraudulent Debt Relief Scheme

On November 30, 2016, the Federal Trade Commission (FTC) and the Florida Attorney General (AG) announced several settlements totaling approximately $27 million in an alleged fraudulent credit card debt reduction scheme. In a...more

CFPB Issues Bulletin Warning About Excessive Employee Incentive Programs

On November 28, 2016, the Consumer Financial Protection Bureau announced that it issued a compliance bulletin warning regulated financial companies about the use of employee incentive programs in providing their financial...more

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